Aside from E-House Holdings (EJ) which completely fell flat on its face, one of the best earnings reports of the past few weeks was Ctrip.com (CTRP). Unlike EJ, the stock gapped up after earnings and tacked on a bushel of points.
On Thursday, the stock has came back and filled it's "gap" in the $66s, where I am going to create a starter stake of a 0.5% allocation. I would prefer to be a buyer around $60 (where I'll place a limit buy near) with a stop loss below that point. But it's an OK place to begin a position with hopes of lower prices in the future. (Click chart to enlarge)
We have not owned this name in a while. This is normally where I'd talk about valuation, growth metrics, fundamentals, etc, but it all has become moot. Stare at the dollar chart, and act accordingly.
As an aside, I am laughing out loud at my main watch list. About 60 stocks, all but one stock is in the red... while the dollar is up 0.25%. This inverse dollar trade is so sickening.
Disclosure: Long Ctrip.com in fund; no personal position